Understanding Incident Management and Disaster Recovery in the Workplace

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[Type the company name] | Understanding incident management and disaster recovery in the workplace | [Type the document subtitle] | | ryan.peacock | [Pick the date] | In this essay I will show you my understanding of incident management and disaster recovery in the workplace. | Understand business risk management process and potential threats to the organisation Risk Management Process, describes the steps you need to take to identify, monitor and control risk. Within the Risk Process, a risk is defined as any future event that may prevent you to meet your team goals. A Risk Process allows you to identify each risk, quantify the impact and take action now to prevent it from occurring and reduce the impact should it eventuate. Business risk is classified into 5 main types – 1. Strategic risk: They are the risks associated with the operation of that particular industry, these can arise from 2.1.1. Business environment: Supply & demand, buyers and sellers interacting and the introduction of new technologies. 2.1.2. Transaction: Alliances, joint ventures, spin offs, relocation of assets including mergers and acquisitions. 2.1.3. Investor relations: Strategy in place to communicate with those who have invested in the company. 2. Financial risk: These are the risks associated with the transactions and financial structure of the business. 3. Operational risk: These are associated with the operational and administrative procedures. 4. Compliance risk(legal): These are associated with the need to comply with the rules and regulations set out by government. 5. Other risks: These would be natural disasters such as floods, and others dependent on the scale of the industry. Business risks can also be influenced by two major risks – Internal risks the risks that arise from within the organisation, and external those that

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